Luxembourg : Financial System Stability Assessment: Update

Author/Editor:

International Monetary Fund

Publication Date:

June 28, 2011

Electronic Access:

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Summary:

Luxembourg hosts a large international financial center that plays a pivotal role in its economy and in European financial markets. The crisis exposed significant vulnerabilities in Luxembourg’s financial system, owing to large cross-border exposures to foreign parent banks. The authorities proceeded with large public support to systemically important financial institutions under stress and with a fivefold increase in the deposit guarantee. Strengthening home-host supervisory collaboration and cross-border bank resolution frameworks will be of crucial importance for Luxembourg. Financial stability assessment and stress tests are also carried out.

Series:

Country Report No. 11/148

Subject:

English

Publication Date:

June 28, 2011

ISBN/ISSN:

9781455288656/1934-7685

Stock No:

1LUXEA2011002

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

69

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